Dhaka, Aug 29 (UNB) - The 179th audit committee meeting of the Board of Directors of Al-Arafah Islami Bank Limited (AIBL) was held at Al-Arafah Tower in the city on Wednesday.
Amir Uddin, Chairman of the Committee presided over the meeting that reviewed and discussed about various audit related issues of the Bank, said a press release.
Members of the committee Md Abdus Salam, Abdul Malek Molla, Niaz Ahmed, Khalid Rahim, Managing Director Md Habibur Rahman, Executive Vice President and Company Secretary Md Mahmudur Rahman and other executives were present in the meeting.
Dhaka, Aug 29 (UNB) – The local electronic giant Walton witnessed a record in its fridge sales during Eid-ul-Azha, one of the biggest religious festivals of the Muslims performed across the country on August 22, 2018.
The local brand sold out about six lakh units of frost, non-frost and deep fridges during the month of July and August of this year, a 50 percent rise in sales from corresponding period of last year, said a press release on Wednesday.
Amdadul Haque Sarker, executive director of Walton Group, said, “We set a target of selling out around four lakh units of fridges in two months (July and August). To meet the target, we marketed a total of 145 models of fridges, of which 53 models were newly released. As a result, the target was fulfilled within a very short time. Thus, we revised the target to 5 lakh units, which was also fulfilled few days ahead of Eid. Now, we are expecting that the number of fridge sales will cross six lakh units.”
Mohammad Rayhan, chief marketing officer of Walton Plaza Sales and Development Department, said, they experienced a bumper sales of Walton fridges ahead of the Eid due to releasing highest number of fridges in the local market as well as handing over new cars under the Eid Mega Digital Campaign.
He claimed that the release of special design fridges like same space for normal and deep parts resulted in gaining huge customers’ responses in the Eid.
According to marketing officials of Walton, the models of tempered glass door refrigerators turned out to be prime choices of the customers. Prices of those models of fridges were Tk 24,500 to 37,500. In addition, sales of the frost refrigerators of five star energy rating were also satisfactory.
Among the non-frost refrigerators, the new models like side by side door 563 liter, three-door 536 liter and 526 liter non-frost refrigerators gained good responses from the customers during Eid.
The use of Intelligent Inverter technology, Nano Healthcare and Anti-Fungal Door Gasket technology, one-year replacement guarantee, ten years guarantee for compressors, maximum 36-month easy installment facility, achieving Five Star energy rating from BSTI and suitability with the local weather conditions helped Walton refrigerators to be at the top of the customers' choice, they said.
Beijing, Aug 29 (AP/UNB) — Asian stock markets edged higher Wednesday after Wall Street gained on strength in technology and retailing shares.
KEEPING SCORE: Tokyo's Nikkei 225 rose 0.5 percent to 22,927.35 points and Hong Kong's Hang Seng added 22 points to 28,373.74. The Shanghai Composite Index was off 2 points at 2,775.89 and Seoul's Kospi gained 2 points to 2,305.98. Sydney's S&P-ASX 200 advanced 0.3 percent to 6,321.20 and benchmarks in Taiwan and New Zealand gained.
WALL STREET: The Standard & Poor's 500 index closed at a new record. Shoe retailer DSW surged 20.2 percent after reporting stronger-than-expected results. Apple added 0.8 percent and chipmaker Qualcomm gained 3.6 percent. The S&P 500 rose less than 0.1 percent to 2,897.52. The Dow Jones Industrial Average added 0.1 percent to 26,064.02. The Nasdaq composite gained 12.14 points, or 0.2 percent, to 8,030.04. Energy companies dipped along with oil prices.
NAFTA: Canada's foreign minister, Chrystia Freeland, said she had a "constructive conversation" with U.S. Trade Representative Robert Lighthizer about how to revamp the North American Free Trade Agreement. Freeland arrived in Washington for talks after the Trump administration reached a preliminary deal with Mexico to replace NAFTA. While some experts think stocks could rally if the U.S. and its partners make progress on new trade deals, others say it is unclear how much tensions have harmed stocks.
ANALYST'S QUOTE: "The initial euphoria from the U.S.-Mexico agreement died down" and "mixed views" from Canadian officials gave investors little guidance, said Jingyi Pan of IG in a report. Investors appear to be looking at the Mexico talks "to project how the U.S. administration would likely remain adamant as well in dealing with China that could invite further tensions ahead," said Pan. "One to watch, nevertheless, as more tariffs loom."
ENERGY: Benchmark U.S. crude added 10 cents to $68.63 per barrel in electronic trading on the New York Mercantile Exchange. The contract sank 34 cents on Tuesday to close at $68.53. Brent crude, used to price international oils, gained 6 cents to $76.35 in London. It shed 21 cents the previous session to $76.29.
CURRENCY: The dollar gained to 111.29 yen from Tuesday's 111.19 yen. The euro advanced to $1.1692 from $1.1696.
Washington, Aug 29 (AP/UNB) — Canadian Foreign Affairs Minister Chrystia Freeland said her meeting Tuesday with United States Trade Representative Robert Lighthizer was "a very good, constructive conversation" about how to revamp the North American Free Trade Agreement.
Freeland told reporters after the meeting she and her team plan to work this week in "a full-steam effort" and said both parties will start diving into specific issues Wednesday morning.
Freeland hurried to Washington a day after the Trump administration reached a preliminary deal Monday with Mexico to replace the North American Free Trade Agreement.
She doesn't have much time, because Lighthizer intends to formally notify Congress of the deal with Mexico on Friday.
Freeland said both parties "are set for an important and constructive week" but also warned that "we are prepared for all scenarios."
She said significant concessions from Mexico in the areas of labor and rules of origin on cars "really paved the way for what Canada believes will be a good week."
The Office of the U.S. Trade Representative said Mexico had agreed to ensure that 75 percent of automotive content be produced within the trade bloc (up from a current 62.5 percent) to receive duty-free benefits and that 40 percent to 45 percent be made by workers earning at least $16 an hour. Those changes are meant to encourage more auto production in the United States.
Tuesday's meeting was the first time Freeland had met with her U.S. counterparts in Washington since May.
Umm Al-Quwain, UAE, Aug 29 (UNB/AsiaNet) – UAE based ADAB Solutions company is launching the First Islamic Crypto Exchange (FICE), which is very unique, as it is the only Shariah compliant crypto exchange at this moment.
This project gives access to the technologically innovative financial sector for 1.8 billion Muslims living on the planet. FICE will create a reliable crypto trading platform, which will become a universal solution for the involvement of Muslims and users of Islamic finance in the crypto market.
This will be the first project, which allows crypto transactions to be performed in accordance with the principles of Islamic finance and will be open to all users, regardless of religion.
According to the Islamic Finance Development Report 2017 by Thomson Reuters, the crypto economy is one of the key innovative areas in the field of Islamic finance. However, the multitudes of contradictions in this market, and the ambiguous position of the Islamic community regarding the admissibility of investments in this market, have led to the distancing and wait-and-see attitude of Muslim investors.
By adhering to the high moral requirements set forth by the Shariah community, the company will utilize the in-house Shariah Advisory Board represented by international Shariah experts to ensure that FICE activity will comply with Shariah principles at all times. These new standards set forth by the FICE will ensure an enhanced quality of assets on exchange, as well as an enhanced inclusion of Islamic crypto assets enthusiasts and traders.
"Ideas that correspond to the norms of the Shariah are based on the understandable material value, have a clear business strategy, and this allows us to confidently assert that halal projects are incomparably safer more successful than the beautiful signs of many cryptocurrency initiatives," says Founder and CEO of ADAB Solutions, Timur Turzhan.
"By investing in FICE, you will not only support the needed and well-timed project for the Islamic Ummah of the whole world, but also make a valuable acquisition that can bring a decent profit. Our team is dedicated to its business and will do its best to achieve all the goals set."
ADAB Solutions Company registered under the UAE jurisdiction. The company aims to provide solutions to attract Muslims community to the crypto economy.